Guernsey firm to provide funds for equity release deal

The home reversion market is to get a boost with the launch of a product with a £150m funding line.

Details of the product are still being finalised, but Terry Pritchard’s new IFA business Alt FS will be its sole distributor.

An unnamed Guernsey-based investment firm is providing fund-ing for the product, which will be available to the under-50s.

Pritchard, managing director at Alt FS, says: “The equity release market is a growing sector but there’s not been enough products over the last 12 months.

“We hope to change that by coming up with our own product in 2011.”